PPC to build new Zimbabwe cement plant

PPC´s Zimbabwe subsidiary, Portland Holdings Ltd (PHL) has announced its intention to construct a new cement plant to service the Harare and central Mozambique markets. The new plant will have a capacity of approximately 1Mta and will coincide with the construction of a separate grinding facility in the neighbouring territory of Tete in Mozambique.

Ketso Gordhan, the CEO of PPC said in a statement: "In recent years our investment in Zimbabwehas shown strong growth on the back of a more buoyant and stable economy. This together with thefact that PPC has received an indigenisation certificate makes us optimistic about the future of theeconomy and the country as a whole."

"The construction of additional cement capacity will ensure that PPC continues to be a key player in the development of infrastructure in Zimbabwe and neighbouring countries. It is totally in line with our stated strategy of growing our non-South African revenue from the current 21 per cent to at least 40 per cent by 2016", adds Gordhan.

The preliminary study for a new plant in the Mashonaland province is at an advanced stage, andsignificant investment has already been made in exploration drilling at various locations. The company added that a full scale feasibility study including the selection of an equipment supplier will now commence.